{"id":3380,"date":"2024-11-27T16:31:39","date_gmt":"2024-11-27T16:31:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3380"},"modified":"2024-11-27T16:31:39","modified_gmt":"2024-11-27T16:31:39","slug":"ripple-case-will-be-dismissed-says-trumps-leading-crypto-czar-candidate","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3380","title":{"rendered":"Ripple Case Will Be Dismissed, Says Trump\u2019s Leading \u2018Crypto Czar\u2019 Candidate"},"content":{"rendered":"
\n

In an interview<\/a> with FOX Business on Tuesday, former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, a leading contender for the role of White House \u201ccrypto czar\u201d in the second Trump administration, expressed his belief that the Securities and Exchange Commission (SEC) will drop its case against Ripple Labs.<\/p>\n

Giancarlo, known in the industry as \u201cCrypto Dad<\/a>\u201d for his forward-thinking views on digital assets, discussed the future of US crypto policy and the impact of Trump\u2019s return to the White House. He highlighted the need for a cohesive strategy to make the United States the global leader in cryptocurrency and blockchain technology.<\/p>\n

SEC Is Likely To Drop The Ripple Case And Others<\/h2>\n

The interview shed light on the evolving stance of former President Donald Trump toward cryptocurrencies. Giancarlo noted that during his tenure, Trump\u2019s primary focus was on achieving 4% economic growth, asking agencies, \u201cWhat are you guys doing to get us to 4% economic growth?\u201d<\/p>\n

Giancarlo suggested that Trump now sees crypto and other emerging technologies like artificial intelligence and quantum computing as avenues to \u201cturbocharge the United States economy.\u201d He added, \u201cTrump wants to create the second industrial revolution in America, and he thinks crypto is one of the part of it.\u201d<\/p>\n

Addressing the ongoing legal battle between the SEC and Ripple Labs, Giancarlo revealed his perspective on the matter. Prior to the lawsuit, he had authored a law review article arguing that XRP should not be classified as a security under US law.<\/p>\n

This view partially aligns with Judge Torres summary judgment<\/a> from July 2023 that found certain sales of XRP did not constitute securities transactions. \u201cI wrote a definitive law review article right before that case was brought, arguing that XRP was not a security subject to SEC. It turned out that the judge who ruled in that case sided with the view or half of it,\u201d Giancarlo remarked.<\/p>\n

Giancarlo also opined on how he believes the ongoing SEC cases like the Ripple case should be handled after Gary Gensler leaves office. \u201cI would recommend that it\u2019s time for regulatory agencies to drop a lot of these cases where they\u2019ve lost at the trial court,\u201d Giancarlo said.<\/p>\n

When pressed on whether the SEC would drop its appeal against Ripple Labs, he affirmed, \u201cI think they should and they will [\u2026] I would bet they would.\u201d<\/p>\n

Giancarlo was critical of the outgoing SEC Chairman<\/a> Gary Gensler, citing issues such as talent attrition, low morale, and overreach in enforcement actions. He mentioned that the SEC had been \u201csanctioned by a federal court for lying to the court,\u201d which he believes undermines the agency\u2019s integrity.<\/p>\n

\u201cPerhaps even worse than I found at the CFTC,\u201d Giancarlo said, referring to the state of the SEC. \u201cTalent has left. What\u2019s left are dead-enders, people that don\u2019t want to come to the office.\u201d<\/p>\n

Discussing the possibility of new leadership at the SEC, Giancarlo expressed hope that the next chair would have \u201cboth institutional knowledge of the building and a deep commitment to innovation and the crypto agenda.\u201d He suggested names like his former law school classmate Paul Atkins and Kevin Hassett as strong candidates for the position.<\/p>\n

Giancarlo emphasized the importance of a coordinated approach to fulfill Trump\u2019s promises on crypto policy. He advocated for the establishment of a \u201ccrypto council\u201d and highlighted the need for collaboration across various government agencies, including tax authorities and the White House Counsel\u2019s Office. \u201cA lot of thought needs to go into how this is structured to achieve President Trump\u2019s promises,\u201d he concluded.<\/p>\n

At press time, XRP traded at $1.45.<\/p>\n

\"XRP<\/div>\n","protected":false},"excerpt":{"rendered":"

In an interview with FOX Business on Tuesday, former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, a leading contender for the role of White House \u201ccrypto czar\u201d in the second Trump administration, expressed his belief that the Securities and Exchange Commission (SEC) will drop its case against Ripple Labs. Giancarlo, known in the industry […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3380","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3380"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3380\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}